Bitcoin VS cryptocurrency for the central bank

[Irish 128]

On 4/22/2020 at 4:30 PM, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

This scenario can affect the price of bitcoin if those banks will launch their very own crypto currency because the demand on bitcoin will lessen after the launch.

[Zzoro6110 19]

Central banks are considering creating their own cryptocurrencies to eliminate Bitcoin and other cryptocurrencies but I think they will not succeed in that

[pablomarwan 3082]

I think that it will not be a difference between it and what the competition used to be before, but I think only that it is possible to take advantage of these digital currencies that the banks launched in the first in Tatir on Bitcoin or digital currencies in a positive way, I mean, will accept the most of the investors to trade
This will also lead to the prosperity of the electronic market, although it is possible, in doing so, to destroy some other currencies

[Mohssine 1725]

Yes central bank hate cryptocurrency  , because they see bitcoin and the other cryptocurrency start to take a place of the real currency , they have a lose about this , but the are start to create their coin , to solve this problem . But my friend you have to know that bitcoin is one of cryptocurrency .

[Lover840 0]

Those central banks action will have to pump a lot of volume into their coins if they really want to create their own coin, but they wouldn't think of beating Bitcoin off it's position.

[Brushless4500KV 4214]

On 4/22/2020 at 1:00 PM, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

Central banks can not affect the crypto negatively. If they develop their own coins, they will waste their times because any coin which has connection to banks, is nothing but fiat! and you can see today that fiat has not been able to stop the rapid progress of cryptocurrency. Competition is when two coins are similar. A centralized coin can not compete with a decentralized coin because they are totally different in nature. Cryptocurrency is all about cryptography and this concept is based on encoding and privacy. If central banks launch digital coins, any bank that runs under the supervision of a central bank can penetrate and check the coins and any transaction related to them. This is something no crypto user will accept. Another thing that is missing in bank regulated coins is the trading profit because bank coins will not be tradable due to strict control of supply.

[Soaib khan 1035]

as far as I know banks does not like bitcoin or any other cryptocurrency which has the same vision as bitcoin because this is dangerous for banks and government as well 

[SuperCrypto 7193]

3 hours ago, Brushless4500KV said:

Central banks can not affect the crypto negatively. If they develop their own coins, they will waste their times because any coin which has connection to banks, is nothing but fiat! and you can see today that fiat has not been able to stop the rapid progress of cryptocurrency. Competition is when two coins are similar. A centralized coin can not compete with a decentralized coin because they are totally different in nature. Cryptocurrency is all about cryptography and this concept is based on encoding and privacy. If central banks launch digital coins, any bank that runs under the supervision of a central bank can penetrate and check the coins and any transaction related to them. This is something no crypto user will accept. Another thing that is missing in bank regulated coins is the trading profit because bank coins will not be tradable due to strict control of supply.

I think no matter how central banks try to kill the idea of cryptocurrencies, you will not be able to move forward with this, although China has started the idea of launching the cryptocurrency linked to the People's Bank of China, and has now reached the final stage of the digital yuan, but this currency will remain centralized and not compete with true decentralized digital currencies.

[Dark_Sky 8489]

On 4/22/2020 at 6:59 PM, Syed Al Mamun said:

Actually i think it's not a discussionational issue that even the central bank lunch the own Crypto currency. Bitcoin is the father of Crypto currency, so it's all in all in the Crypto currency industry.

That's right no need to explain more or no need to have a debate about that bitcoin will always have a potential when it needs to choose between any cryptocurrencies or coins. 

[Rezort 846]

Not every bank hate cryptocurrencies, in some countries there are already banks which are accepting cryptocurrency, so we would definitely have more banks like that in the future.

[iloveyobit 6599]

They will continue to fight Bitcoin, of course, because they are trying to control it and benefit from it as much as possible, but that is not possible for them, they will continue to create currencies to compete with him, but only Bitcoin will remain in the end according to my opinion.

[Trader21 1199]

On 5/3/2020 at 4:41 PM, Nezar said:

Most banks hate cryptocurrencies because it is an unstable currency that cannot be controlled or followed, which is why banks do not prefer cryptocurrencies and create their own currencies so that they can control their salaries.

Yes indeed some banks hesitate just cryptocurrencies as you above said reasons. But no doubt there are still some banks like National Bank of Canada, Revolut etc adopted cryptocurrency. 

[Omar Ommeish 4872]

I think it will be a regular competition because I don't think there is a currency that will beat Bitcoin because it is the oldest and most popular currency among all currencies.

[Zalaks007 543]

I don't think that the coming of a new project by the central bank will affect the price of bitcoin or anything that has to do with it but rather it will even strengthen it and also make it more stronger and demanding in the cryptocurrency market.

[Thekingcallme 1975]

Banking currencies will not significantly affect Bitcoin because it will keep the strongest and best currency in terms of features and banks cannot compete with it at all.

[ben123123 152]

Banks don't like to whole market of crypto because these currencies are unexpected dangerous for banking system that is why they don't want crypto market because their business activities are less then before crypto market like saving account and international remittance also.

[Alimhana930 1605]

Of course, the banks will reject Bitcoin because he dispensed them as a broker for money transfers and freed people from their fees and restrictions, It has intended to launch its own digital currencies, but in my opinion it will fail because it is in all cases centralized or will be affected by centralization. On the contrary, the coming period will be good for bitcoin due to the increasing use of it and the number of its users.

[TimopheyKa 3900]

In fact, it seems to me that Central banks do not consider bitcoin a bad cryptocurrency! They just develop in it, creating their own coin, which will also bring them profit, because it is much better than getting nothing! To be honest, this is a very muddy topic, on the one hand, it seems to be a good position, but on the other hand, well, it's not objective!

[Mike1515 2977]

Central banks have an issue with the new found world of exchange, the central banks , all over the world , are founded on fiat exchange and thats how they control everything.

How ever if they cannot control the coins that we have, they tried getting them through the main stream media and it never worked, though with time they have been able to establish the only way to take control of this space is to organize your own, and 

true they have been able to build their own crypto currency. Most people touted that its ripple, but am sure its not. its another coin. well

[Digital 387]

Central banks will never link with crypto currency because central bank regard bitcoin as non currency because it was not approved by any authority but they forgot that money must not really be accepted by the authority before it becomes real money if all people make use of it in transaction regardless of weather government accept it or not is still a money .and if you look at every nation more people are getting into the crypto currency industry.

[bogdanoff 3173]

This is a danger of making bitcoin used only by a small number of people and may create problem to the price too. It is a great technology still but if someone make something better it will be used instead of cryptocurrencies.

[Gluttony 1775]

I don't personally think the idea of those central banks launching their own cryptocurrency would be a good idea because now, bitcoin is still gathering its popularity to all of the users in the crypto world which means that it could take time for their own cryptocurrency to become relevant to the level of bitcoin. I kind of thinks its a prettry bold moves since you know that your enemy is in another type of world which you cannot defeat unless you go through its own dimension. Since they managed to create their own cryptocurrency this could also mean that they are accepting the possibility of cryptocurrency replacing the currency that we already have.

[estee369 489]

This won't affect bitcoin. They all will co exist and co operate each other. It looks like Crypto currency can't be fully centralized nor people will let it be a fully decentralized. Both have advantages and disadvantages. So it will be better to co exist with each other.

[elenavshubke 55]

On 22.04.2020 at 11:30, SuperCrypto said:

It has become known to us that central banks hate bitcoin BTC, and other digital currencies, because of their disruptive advantages, but these banks resorted to the idea of launching their own cryptocurrency in most countries of the world, so how will this affect Bitcoin and the rest of the market?
Do you think that the Bitcoin status of BTC will be bad during the coming period, due to the spread of the idea of the cryptocurrency linked to the central bank, or will it be a regular competition, we would definitely like to know your opinion?

wow, what an interesting topic it will be very interesting for me to read the answers and draw certain conclusions for myself. Thank you for creating this topic, very relevant

[pliendo 32]

 I don't think it will have much impact with respect to bitcoin, because if the bank launches a digital currency in the same way it would be regulated and one of the strengths of bitcoin is decentralization.